Industry stakeholders immediately offered their thoughts on the complex regulatory saga that has surrounded the now-defeated DOL fiduciary rule; depending on their position in the industry and their particular client service philosophy, some providers are hailing this step as a victory, while others are bemoaning it.
Results outweigh the retirement plan sponsor costs
A retirement plan consultant and an ERISA attorney offer tips for setting up, maintaining and following retirement plan documents.
Under the platform, plan sponsors no longer have to contact each potential provider and request separate proposals.
Seventy percent of employers use target-date funds (TDFs) as the default investment option for their retirement plans, yet ESG versions of these portfolios are virtually nonexistent, according to ClearPoint.
"Having a plan in place to manage their finances can help retirees feel confident about spending their assets and address the fears that may be holding them back,” says Marcy Keckler, vice president of financial advice strategy at Ameriprise Financial.
Retirement plan sponsors have access to a plethora of data that can help them in making plan design and participant education decisions.
Fee-levelization and zero revenue sharing are the newest trends for retirement plan fees.
However, the Trump administration has already been threatened with a lawsuit over the regulation.
There are a number of investment vehicles to consider when drafting a plan menu that best suits the plan's participants.
From the recent fiduciary rule hold to modern, advanced technology, panelists examine how participant advice has widely grown in the past years.
Outflows were primarily from target-date (35%), emerging markets (27%) and company stock (27%) funds, the Alight Solutions 401(k) Index shows.
The expense ratios 401(k) plan participants incur for investing in mutual funds have declined substantially since 2000, Investment Company Institute data shows.
DB plan sponsors want to keep control of their plans as they de-risk
